Angola announced the launch of a $5 billion sovereign wealth fund on Wednesday, prompting renewed scrutiny of Nigeria’s equivalent initiative.
Angola-which is the second largest oil producer in Africa, behind only Nigeria – announced the creation of the fund which is to be called the Fundo Soberano de Angola, (also to be known as the FSDEA) in Luanda on Wednesday – revealing that the fund would initially house $5 billion in assets, including stakes in infrastructure, hospitality, and other industry projects as well as financial securities………………………………………..Full Article: Source